Friday, September 29, 2006
Chris Anderson wrote an article that became a book on a phenomenon about business called the Long Tail. There is a lot of business in the Long Tail. Niche Marketing. It's how blogs work: there are tens of millions of blogs with anywhere from millions of readers to none. It is a carry-over from Pareto Principle of 80/20, where 80% of your revenue comes from 20% of your clients. "But where the Long Tail works, minority tastes are catered to, and individuals are offered greater choice." Tom Peters says that marketing to Women is the single business idea that can advance sales (if done right). The Hispanic market is huge. The Retiree market is huge - just look at all the active lifestyles communities built in FL and Calif. Where is this going? You can't be everything to everybody - that's what cable and telcos do because they have huge ad budgets. You need to find out what your Niche is and sell deep to that segment for greater success.